New York State Teachers Retirement System Decreases Holdings in S&T Bancorp, Inc. $STBA

New York State Teachers Retirement System reduced its position in S&T Bancorp, Inc. (NASDAQ:STBA) by 44.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,163 shares of the financial services provider’s stock after selling 26,019 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of S&T Bancorp worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of STBA. Royal Bank of Canada lifted its holdings in S&T Bancorp by 10.1% in the first quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider’s stock valued at $487,000 after acquiring an additional 1,206 shares during the period. AQR Capital Management LLC lifted its stake in shares of S&T Bancorp by 54.9% in the 1st quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider’s stock worth $1,339,000 after purchasing an additional 12,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of S&T Bancorp by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,756 shares of the financial services provider’s stock worth $843,000 after buying an additional 1,086 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of S&T Bancorp by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,837 shares of the financial services provider’s stock worth $3,884,000 after buying an additional 7,286 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of S&T Bancorp in the first quarter worth approximately $4,211,000. Institutional investors own 65.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STBA. Piper Sandler lifted their price target on shares of S&T Bancorp from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Weiss Ratings restated a “buy (b)” rating on shares of S&T Bancorp in a research note on Monday, April 27th. Finally, Wall Street Zen raised S&T Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, S&T Bancorp presently has an average rating of “Hold” and an average price target of $46.60.

S&T Bancorp Stock Performance

NASDAQ STBA traded down $0.10 on Friday, reaching $48.75. 255,644 shares of the stock were exchanged, compared to its average volume of 263,924. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. S&T Bancorp, Inc. has a one year low of $34.01 and a one year high of $50.40. The firm has a market capitalization of $1.75 billion, a PE ratio of 13.66 and a beta of 0.84. The company’s 50-day simple moving average is $46.33 and its two-hundred day simple moving average is $43.53.

S&T Bancorp (NASDAQ:STBA) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The firm had revenue of $102.08 million during the quarter, compared to analysts’ expectations of $103.62 million. S&T Bancorp had a net margin of 23.71% and a return on equity of 9.35%. Analysts expect that S&T Bancorp, Inc. will post 3.75 EPS for the current fiscal year.

S&T Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Thursday, May 14th. This is a boost from S&T Bancorp’s previous quarterly dividend of $0.36. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.46%.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.